(Press Release) Mexico’s Pedralbes Partners will invest up to US$2m of growth capital in Buenos Aires based mobile marketing company, Logan as part of a Series A financing.
BUENOS AIRES, October 2016 – Buenos Aires based mobile marketing company Logan announced today it has entered into an agreement with Mexican investment firm Pedralbes Partners to receive up to US$2m of growth capital as part of a Series A financing to fund the expansion of its operations across its core markets in Argentina, Brazil and Mexico. Logan is an audience driven, pure-play mobile marketing company targeting growth markets in Latin America with offices in seven countries and a fast growing client base of corporates, agencies and app developers.
“Bringing Pedralbes on board will allow us to capitalize the success achieved in Latin America, allowing us to compete more aggressively in our main markets as well as to strengthen our focus: to deliver innovation and best performance to our advertisers”, said Logan co-founder & CEO Juan Carlos Göldy. “We are strongly focused on increasing our clients’ bottom-line results, using mobile marketing as a strategic growth tool to achieve this goal. With this in mind, the Pedralbes team is a great fit for us, their vast expertise will help us to better serve our clients’ needs” said Logan Co-founder Ignacio Alvarez Saez.
“We are very excited to team up with Logan to continue expanding the company’s footprint in Latin America where the mobile advertising market is growing strongly. The company has achieved to build in just 4 years a pan-regional, profitable advertising platform led by an outstanding team focused on strong client relationships and flawless execution” said Jose Lopez-Portillo, Managing Partner at Pedralbes Partners. “Given strong expected consolidation in the Latin American space we regard this as an ideal timing to join Logan to accelerate the growth plans of the company” adds Demian Esser, Managing Partner at Pedralbes Partners.
Logan will use the proceeds of the investment to expand its technology platform, including its programmatic offering, across different advertising formats and strengthen its commercial capabilities. Pedralbes Partners joins an existing investor base composed of leading angel investors and early stage investment fund NXTP.